The new Industry Commercialization Associates Program (ICAP) has been developed to help Alberta based and/or incorporated businesses to attract and retain new talent, accelerate new technology to commercialization, access cashflow support for innovation, and promote export growth through hiring and training funding support.
Eligible applicants can receive up to 75% to a maximum of $120,000 in grant funding towards an associate employee’s salary per year for up to two years.
Applications for the ICAP funding program are currently open on an ongoing basis. To assess your business’ eligibility for funding support, please connect with the Mentor Works, a Ryan Company team for a free funding discovery session.
About the Industry Commercialization Associate Program (ICAP)
The Industry Commercialization Associate Program (ICAP) provides high-potential, high-growth small-to-medium-sized businesses (SMEs) with funding that enables them to employ a highly trained professional associate with the goal of advancing business readiness levels and/or accelerating product commercialization.
The selected industry associate should possess the advanced technical skills needed by the SME to make the final leap from research to commercialization.
Successful applicants for the ICAP program may be eligible for the following funding allotments:
- Up to 75% of the Associate’s salary to a maximum of $120,000 in non-dilutive funding; and
- Funding amounts will be determined by the Associate’s experience and education level.
Applicants may be eligible for the ICAP program if they meet the following criteria:
- Exist as a corporation, with up-to-date corporate filings;
- Be incorporated in Alberta AND/OR incorporated in another jurisdiction and extra-provincially registered in Alberta;
- Be a General Partnership, Limited Partnership, or Limited Liability Partnership and registered in Alberta;
- Be an SME (less than 500 FTEs & $50M in annual gross revenue);
- Companies must be Alberta-based with an Alberta footprint, which includes a significant physical and corporate operational presence in Alberta; appropriate Alberta ownership; and discernible intent that operational benefits will flow primarily within the Province of Alberta; and
- Not have more than two (2) active Alberta Innovates-funded associates simultaneously.
In addition, eligible associates must:
- Demonstrate the relationship between the Applicant and Associate does not create a conflict of interest;
- Be at arm’s length from the Applicant (i.e., no legal relationship to the Applicant);
- Not currently own, have no right, option, or entitlement to purchase more than 15% of the issued and outstanding shares of the Applicant;
- Not have been an Associate for the Applicant other than in the case of a re-application;
- Not have been employed by the Applicant for more than twelve (12) months prior to the submission date of the application;
- Provide a letter indicating the Associate’s intention to participate in the Project at the time of the application; and
- to live in the Province of Alberta at least for the duration of the Investment in the Project.
Eligible Projects must:
- Align with the objectives of the Program;
- Have a TRL level between 3 and 9;
- Be completed within the 1-year term; and
- Comply with other criteria that Alberta Innovates may introduce.
The project may be eligible for a second year of funding with the same Associate if:
- The Associate lives and works in Alberta;
- The progress report indicates the project is on track and confirms the Associate’s contribution to the milestones; and
- The second-year project is supported by the Applicant’s TDA.
Applications for the Industry Commercialization Associate Program (ICAP) are currently accepted on an ongoing basis.
Canadian Government Grants for Hiring and Training
Is your business located in Canada and looking for support in attracting and retaining skilled individuals for your team? Browse our extensive Hiring & Training Funding Directory to find provincial and federal programs available to offset costs of hiring new employees and/or training new and existing staff members as well.
To learn how to better discover top talent while in the recruitment process, download our free How to Fund Hiring & Training slide deck resource for tips on funding, the best job board resources, wage subsidy information, and more.
Additionally, browse our free Hiring Resources for direct links to job boards, assessment tools, and popular hiring grants.